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Economy MCQ Questions & Answers

Economy MCQs : This section focuses on the "Economy". These Multiple Choice Questions (MCQs) should be practiced to improve the Economy skills required for various interviews (campus interview, walk-in interview, company interview), placement, entrance exam and other competitive examinations.

Question 1

Which is a central problem of an economy ?

A. Allocation of Resources
B. Optimum Utilization of Resources
C. Economic Development
D. All of these

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Question 2

The name of UTI bank ltd was changed in 2007 as which of the following?

A. AXIS bank
B. YES Bank
C. Indian Bank
D. Federal Bank

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Question 3

"Vayam Rakshamah" or "We Protect" is the theme of which armed force of India?

A. Indo-Tibetan Border Police
B. Indian Coast Guard
C. Border Security Force
D. Assam Sentinels

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Question 4

According to ICRA Ltd, what is the estimated GDP growth rate of India for the financial year 2022-2023?

A. 10%
B. 9%
C. 8%
D. 7%

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Question 5

According to the IMF, what is the estimated global GDP growth projection in 2022?

A. 3.90%
B. 3.70%
C. 4.90%
D. 4.40%

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Question 6

According to United Nations' WESP 2022 Report, what is the estimated growth rate of the Indian economy in FY 2022?

A. 5.10%
B. 7.50%
C. 8.30%
D. 6.50%

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Question 7

ADB has projected India's economic growth for 2021-2022 at which percent?

A. 10.00%
B. 9.70%
C. 5.90%
D. 8.90%

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Question 8

All International passengers will have to undergo mandatory quarantine for how many days as per the latest government guidelines?

A. 14 days
B. 7 days
C. 10 days
D. 3 days

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Question 9

As of January 1, 2022, what is the estimated population of the world, as per the US Census Bureau?

A. 9.8 billion
B. 3.8 billion
C. 7.8 billion
D. 5.8 billion

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Question 10

As per Brickworks Ratings, the FY22 GDP growth forecast of India is estimated at what per cent?

A. -8.50%
B. 10-10.5%
C. 9.5-10%
D. 8.5-9%

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Question 11

As per the 'Digital 2021: October Global Snapshot", what is the world's population that uses a mobile phone?

A. 45%
B. 65%
C. 50%
D. 52%

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Question 12

As per the report of Goldman Sachs, what is the projected GDP growth rate of the Indian economy in the financial year 2021-22?

A. 8.80%
B. 10.50%
C. 9.10%
D. 7.20%

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Question 13

AS per the Reserve Bank of India data, the foreign exchange reserves of India stood how much in the week ended January 07, 2022?

A. $637.196 billion
B. $632.736 billion
C. $633.576 billion
D. $634.856 billion

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Question 14

As per the UNCTAD data, the FDI in India in 2021 was recorded what percent lower than in 2020?

A. 26%
B. 25%
C. 29%
D. 21%

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Question 15

As per the World Employment and Social Outlook - Trends 2022 report, the global unemployment level in 2022 is estimated at what?

A. 207 million
B. 175 million
C. 189 million
D. 251 million

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Question 16

As per UBS Securities, what is the projected GDP growth rate projection of India in 2021-22?

A. 9.50%
B. 10.50%
C. 8.50%
D. 11.50%

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Question 17

Bharat Dynamics Limited (BDL) and the Indian Army have signed a deal refurbishment of IGLA-1M missiles worth of?

A. Rs 371.41 crore
B. Rs 571.41 crore
C. Rs 271.41 crore
D. Rs 471.41 crore

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Question 18

Centre has been approved to continue the MPF Scheme. How much amount has been allocated to the scheme for five years?

A. Rs. 21,270 cr
B. Rs. 29,280 cr
C. Rs. 26,275 cr
D. Rs. 23,285 cr

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Question 19

Economic Survey 2021-2022 has projected how much growth in India's GDP in FY23?

A. 8 - 8.5 percent
B. 10.5 percent
C. 9.2 percent
D. 7 - 7.5 percent

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Question 20

EPFO have been allowed to invest what percent of their annual deposit in the AIFs?

A. 7%
B. 5%
C. 4%
D. 3%

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Question 21

Fitch Ratings slashed India's FY22 GDP Growth Forecast to how much percent?

A. 8.40%
B. 8.60%
C. 8.30%
D. 8.50%

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Question 22

Government has announced the extension of the scope of the Advisory Board for Banking and Financial Frauds (ABBFF), to cover all fraud cases above what amount?

A. Rs 1 crore
B. Rs 50 crore
C. Rs 3 crore
D. Rs 20 crore

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Question 23

How many members are there in the expert committee constituted by the Supreme Court to probe the Pegasus snooping allegations?

A. Four
B. Three
C. Six
D. Five

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Question 24

How much amount has been allocated under the PLI scheme for drones and drone components?

A. Rs 200 cr
B. Rs 120 cr
C. Rs 95 cr
D. Rs 150 cr

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Question 25

How much amount has been approved by the government under the PLI Scheme for the textile sector?

A. Rs 10,683 crore
B. Rs 11,853 crore
C. Rs 9,523 crore
D. Rs 13,743 crore

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Question 26

How much amount has been approved to boost semiconductor manufacturing?

A. Rs 72,000-crore
B. Rs 76,000-crore
C. Rs 70,000-crore
D. Rs 75,000-crore

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Question 27

How much amount has been granted by the ADB to the Government of India through a sovereign loan in 2021?

A. USD 2.9 billion
B. USD 5.1 billion
C. USD 3.7 billion
D. USD 4.6 billion

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Question 28

How much amount has been paid by India towards the United Nations regular budget assessment for the year 2022?

A. USD 20.3 million
B. USD 17.5 million
C. USD 31.7 million
D. USD 29.9 million

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Question 29

How much amount of loan assistance has been granted by the Government of India to Sri Lanka to help the island nation overcome its depleted foreign reserves?

A. USD 800 million
B. USD 900 million
C. USD 500 million
D. USD 700 million

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Question 30

How much amount of the fund has been allocated to the Scheme of "Rashtriya Yuva Sashaktikaran Karyakram, which has been extended for five years from 2021 to 2026?

A. Rs 2,100.45 crore
B. Rs 2,710.65 crore
C. Rs 1,551.75 crore
D. Rs 1,486.55 crore

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Question 31

How much amount will be invested by the Asian Infrastructure Investment Bank in the project for the development of data centres that mostly serve Emerging Asia?

A. USD 100 million
B. USD 150 million
C. USD 200 million
D. USD 300 million

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Question 32

How much did the Rail-cum-Road Bridge Over River Ganga In Bihar cost?

A. Rs 696 crore
B. Rs 690 crore
C. Rs 606 crore
D. Rs 666 crore

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Question 33

In the Calendar year 2022, what is the estimated growth rate of the Indian economy as per the United Nations' report?

A. 5.40%
B. 6.70%
C. 7.50%
D. 8%

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Question 34

In the latest SBI Ecowrap report, what is the projected GDP growth rate of India in FY22?

A. 9.30%
B. 9.50%
C. 9.10%
D. 9.70%

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Question 35

In which Indian Navy Ship has been the Hindustan Aeronautics Limiteds ALH MK III aircraft formally inducted?

A. INS Dhruv
B. INS Chennai
C. INS Brahmaputra
D. INS Utkrosh

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Question 36

India is to convert how many villages into 'Village of Excellence' in partnership with Israel?

A. 200
B. 150
C. 165
D. 148

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Question 37

India Ratings and Research has projected India's FY22 GDP growth forecast at which percent?

A. 9.40%
B. 6.40%
C. 10.10%
D. 8.60%

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Question 38

International Labour Organisation has projected how much global unemployment in 2022?

A. 150 million
B. 207 million
C. 200 million
D. 215 million

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Question 39

Name the Best marching contingent of the defence sector during the Republic Day parade?

A. Indian Airforce
B. India Army
C. Indian Coast Guard
D. Indian Navy

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Question 40

OECD has projected India's economic growth forecast at which percent for FY22?

A. 10.70%
B. 9.40%
C. 9.90%
D. 8.70%

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Question 41

Premier Pro-Stock 301-400cc category title at the National Motorcycle Racing Championship. Which title did Rajini Krishnan win?

A. 16th
B. 10th
C. 12th
D. 11th

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Question 42

S&P Global Ratings has projected India's GDP for FY22 at which percent?

A. 9.50%
B. 8.20%
C. 10.30%
D. 7.10%

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Question 43

SEBI has directed the mutual fund (MF) industry to set up an audit committee at the asset management company (AMC) level. What is the minimum number of directors required in this audit committee?

A. 5
B. 3
C. 6
D. 8

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Question 44

The advance tax collection increased by 53.50 percent to how much for 2021 -2022?

A. Rs 3.60 lakh crore
B. Rs 2.60 lakh crore
C. Rs 1.60 lakh crore
D. Rs 4.60 lakh crore

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Question 45

The Ministry of Electronics and Information Technology has released a 5-year roadmap and Vision Document 2.0 to achieve US$300 billion Sustainable Electronics Manufacturing & Exports by which year?

A. 2024
B. 2026
C. 2035
D. 2030

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Question 46

The Ministry of Finance has issued guidelines to be adopted by all public sector banks on Staff Accountability Framework for NPA Accounts up to how much amount?

A. Rs 45 crore
B. Rs 75 crore
C. Rs 50 crore
D. Rs 25 crore

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Question 47

The Union Cabinet has granted central support for the Ken-Betwa inter-linking of rivers project in how much amount?

A. Rs 36,755 crore
B. Rs 40,555 crore
C. Rs 42,321 crore
D. Rs 39,317 crore

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Question 48

Union Cabinet approved a how many crore production linked incentive (PLI) scheme for boosting semiconductors?

A. Rs 86,000 crore
B. Rs 46,000 crore
C. Rs 66,000 crore
D. Rs 76,000 crore

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Question 49

What amount of capital infusion has been announced by the Ministry of New and Renewable Energy in the Solar Energy Corporation of India?

A. Rs 900 crores
B. Rs 700 crores
C. Rs 1200 crores
D. Rs 1000 crores

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Question 50

What amount of capital infusion has been approved by the cabinet in the Indian Renewable Energy Development Agency Limited, (IREDA) in 2022?

A. Rs 2,500 crore
B. Rs 1,500 crore
C. Rs 1,000 crore
D. Rs 2,000 crore

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Question 51

What amount of line of credit has been extended to Mauritius for the Metro Express Project?

A. $170-million
B. $180-million
C. $190-million
D. $200-million

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Question 52

What amount of maximum subsidy on purchasing drones for farm mechanization has been approved under the Sub-Mission on Agricultural Mechanization?

A. Rs 5 lakh
B. Rs 10 lakh
C. Rs 7 lakh
D. Rs 12 lakh

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Question 53

What amount of project readiness financing (PRF) loan has been signed between India and ADB to support urban mobility in Aizawl in Mizoram?

A. $4.5 million
B. $3.5 million
C. $2.5 million
D. $5.5 million

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Question 54

What is GST on electric vehicles in India?

A. 5%
B. 10%
C. 1%
D. 4%

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Question 55

What is the current rate of Marginal Standing Facility?

A. 4.25%
B. 4.35%
C. 4.55%
D. 4.00%

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Question 56

What is the Digital Payments Index (DPI) for September 2021 as per RBI data?

A. 367.87
B. 304.06
C. 459.38
D. 270.59

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Question 57

What is the estimated GDP growth rate of India in FY22, as per the latest projection of UBS Securities?

A. 7.50%
B. 10.10%
C. 8.40%
D. 9.10%

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Question 58

What is the existing annual income limit for the identification of the economically weaker section (EWS)?

A. Rs 6 lakh
B. Rs 8 lakh
C. Rs 9 lakh
D. Rs 10 lakh

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Question 59

What is the GDP growth rate of India in FY22 as per Brickwork Ratings?

A. 10-10.5 percent
B. 8-10.5 percent
C. 7-10.5 percent
D. 9-10.5 percent

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Question 60

What is the GDP growth rate prediction of India as per Moody's in FY22?

A. 10.10%
B. 9.30%
C. 7.60%
D. 8.70%

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Question 61

What is the GDP growth rate projection for India in FY23 as per Moody's?

A. 9.00%
B. 7.90%
C. 8.10%
D. 6.50%

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Question 62

What is the gross GST revenue collected in November 2021?

A. Rs. 1,02,709 crores
B. Rs. 1,16,393 crores
C. Rs. 1,17,010 crores
D. Rs 1,31,526 crores

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Question 63

What is the interest rate on employees' provident fund (EPF) deposits for 2020-21?

A. 7.40%
B. 8.50%
C. 8.10%
D. 6.10%

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Question 64

What is the interest rate on EPF deposits for 2020-21?

A. 6.10%
B. 8.90%
C. 7.40%
D. 8.50%

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Question 65

What is the maximum limit of Aadhaar-enabled cash withdrawal transactions, per customer, per terminal per day, as per NPCI?

A. Three
B. Five
C. Two
D. Seven

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Question 66

What is the percentage of Women representation of board seats in India in 2021, as per 'Women in the Boardroom report'?

A. 27.1
B. 4.1
C. 17.1
D. 7.1

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Question 67

What is the projected GDP growth estimate of India in FY21 (2020-21) as per the first revised estimates released by NSO?

A. 7.60%
B. 7.30%
C. 6.60%
D. 6.10%

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Question 68

What is the projected GDP growth rate of India in 2022-23 as per the recent MPC meeting in February 2022?

A. 8.10%
B. 7.20%
C. 7.80%
D. 6.20%

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Question 69

What is the projected GDP growth rate of India in FY22 as per IMF's latest world economic outlook?

A. 10%
B. 9%
C. 8%
D. 7%

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Question 70

What is the revised estimated GDP growth rate of India in the Calendar Year 2021 according to Goldman Sachs?

A. 9%
B. 10%
C. 8%
D. 7%

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Question 71

What is the revised investment limit set by RBI for Voluntary Retention Route (VRR) for investments by Foreign Portfolio Investors?

A. Rs. 3,00,000 cr
B. Rs. 2,50,000 cr
C. Rs. 2,00,000 cr
D. Rs. 3,50,000 cr

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Question 72

What percent of stake has been acquired by NTPC Vidyut Vyapar Nigam Ltd. (NVVN) in Power Exchange of India Ltd?

A. 11%
B. 8%
C. 7%
D. 5%

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Question 73

What was the amount of global FDI flow in 2021 as per UNCTAD Global Investment Trends Monitor?

A. USD 1.45 trillion
B. USD 1.25 trillion
C. USD 1.65 trillion
D. USD 1.85 trillion

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Question 74

Which financial institution has approved a USD 250 million loan to support NICDP in India?

A. Asian Infrastructure Investment Bank (AIIB)
B. World Bank
D. Asian Development Bank (ADB)

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Question 75

Which General Insurance Company has launched a campaign titled '#BahaneChhodoTaxBachao'?

A. SBI General Insurance Company
B. Oriental Insurance Company
C. Bharti AXA General Insurance
D. Religare Insurance Company

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Question 76

Which of the following real estate firm will develop a 500000 sq ft shopping Mall in Jammu & Kashmir?

A. Omaxe Group
B. China Evergrande Group
C. DLF Group
D. Emaar Group

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